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Unemployment
The unemployment rate rose to 3.4% in Minnesota in September, on a seasonally adjusted basis.
The number of unemployed increased to 105,567 and the number of employed decreased to 2,988,750. The labor force grew to 3,094,317, and the labor force participation rate held at 67.7%.
The U.S. unemployment rate decreased to 4.1% in September, on a seasonally adjusted basis. The labor force participation rate held at 62.7%.
Unemployment Rates |
|
September
2024 |
August
2024 |
September
2023 |
Minnesota |
Seasonally Adjusted |
3.4% |
3.3% |
2.8% |
Not Seasonally Adjusted |
2.8% |
3.9% |
2.3% |
United States |
Seasonally Adjusted |
4.1% |
4.2% |
3.8% |
Not Seasonally Adjusted |
3.9% |
4.4% |
3.6% |
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Monthly Employment
Minnesota’s monthly job growth was positive in September as the state added 6,300 jobs, or 0.2%.
Four of eleven published supersectors posted positive growth. Trade, Transportation and Utilities added 1,200 jobs; Professional and Business Services added 2,300 jobs; Education and Health Services added 1,600 jobs; and Government added 3,600 jobs.
Four published supersectors posted decreases. Manufacturing lost 500 jobs, Information lost 600 jobs, Financial Activities lost 700 jobs, and Other Services lost 600 jobs.
U.S. total payroll employment was up in September, adding 254,000 jobs, or 0.2%. Private sector employers added 223,000 jobs (0.2%) on a seasonally adjusted basis. Minnesota outperformed the nation in three supersectors – Trade, Transportation & Utilities, Professional & Business Services and Government.
Payroll Employment |
Sector |
September - Seasonally Adjusted |
Minnesota |
U.S. |
Number of Jobs
Gained or Lost |
Percent
Change |
Percent
Change |
Total Nonfarm Employment |
6,300 |
0.2 |
0.2 |
Total Private |
2,700 |
0.1 |
0.2 |
Mining & Logging |
0 |
0.0 |
0.5 |
Construction |
0 |
0.0 |
0.3 |
Manufacturing |
-500 |
-0.2 |
-0.1 |
Trade, Transportation, & Utilities |
1,200 |
0.2 |
0.0 |
Information |
-600 |
-1.4 |
0.1 |
Financial Activities |
-700 |
-0.4 |
0.1 |
Professional & Business Services |
2,300 |
0.6 |
0.1 |
Educational & Health Services |
1,600 |
0.3 |
0.3 |
Leisure & Hospitality |
0 |
0.0 |
0.5 |
Other Services |
-600 |
-0.5 |
0.1 |
Government |
3,600 |
0.8 |
0.1 |
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Annual Employment
Minnesota over the year (OTY) payroll employment growth stood at 37,566 or 1.3%, higher than August’s 1.2%. The private sector added 16,068 jobs, or 0.6% in September, which was the same level as in August.
U.S. total nonfarm over-the-year job growth stood at 1.5% in September, the same level as August. Private sector employment growth was at 1.4%, the same as the previous month.
Six of eleven published supersectors in Minnesota lost jobs over the year. Mining and Logging lost 121 jobs (1.8%); Construction lost 133 jobs (0.1%), Manufacturing lost 8,493 jobs (2.6%), Information lost 2,516 jobs (5.7%), Financial Activities lost 4,156 jobs (2.2%); and Professional and Business Services lost 10,856 jobs (2.8%).
Five of eleven published supersectors added jobs. Annual job growth in Minnesota was the highest in Education and Health Services, which added 35,351 jobs (6.2%). Trade, Transportation and Utilities added 3,932 jobs (0.7%); Leisure and Hospitality added 1,882 jobs (0.7%); Other Services added 1,178 jobs (1%); and Government added 21,498 jobs (5.1%).
Three supersectors showed strength over the year in Minnesota compared to the nation. Education and Health Services was up 6.2% (vs 3.8%); Trade, Transportation and Utilities was up 0.7% (vs 0.6%); and Government was up 5.1% (vs 2.1%).
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